Warning - APEX Capital allows brokers to rob truckers

Discussion in 'Ask An Owner Operator' started by Markvfl, Sep 19, 2012.

  1. Markvfl

    Markvfl Road Train Member

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    Yes, Apex has paid us for the loads. Now they are holding the payments that they cannot collect from TQL out of our more recent settlements.

    We are getting the shaft from our insurance company - Gramercy. Their rating dropped since we got them last year and they simply do not pay claims, period.

    Why did Apex allow Road Runner to pay an amount for a load that is less than the amount on the confirmation sheet?

    I thought a large company like Apex had the power and ability to stand up to the big guys and represent their clients and that is a part of the reason to use and pay them. If Apex or any factoring company has no willingness or ability to protect their clients from being run over by the big guys then I'll have to remove that consideration from reasons to factor.

    Apparently due to my ignorance of the facts, which I don't like or agree with, I'm soiling the good name of Apex with this thread and it needs to be removed.
     
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  3. wichris

    wichris Road Train Member

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    A claim and freight charges are two different things. Some may ignore it but FMCSA(thru old ICC)regs require freight charges to be paid regardless of any claim. Those charges become part of the claim.
     
  4. G/MAN

    G/MAN Road Train Member

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    It can sometimes take weeks to settle insurance claims.
     
  5. Clasix1055

    Clasix1055 Even when I'm wrong I'm right

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    Again sometimes I believe I am really slow....

    First is Apex a recourse, or non recourse company?

    You have CARGO Insurance through Gramercy up to $100,000

    TQL files a $30,000 claim

    Your insurance company refuses to pay this claim to TQL (certificate holder)

    Unless we are missing some information 1. Apex shouldnt be involved at this point 2. Gramercy shouldn't offer CARGO insurance and should have sent cancelation notices to all of your certificate holders

    you need an attorney if we have all the information... File claim on TQL bond, Sue Apex for breach of contract, and sue Gramercy for not providing services paid for (whatever thats called)
     
  6. Markvfl

    Markvfl Road Train Member

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    Exactly - that's why I said that what they're doing is illegal. But they know that you can't or won't spend 10 grand on legal fees. Gramercy will never pay the claim and we will never collect the money, period.
     
  7. Markvfl

    Markvfl Road Train Member

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    Apex is a recourse company. Gramercy has dropped from an A rated company to a C rating. It's because they do not pay claims. I just felt (strongly) that if TQL refuses to pay the freight bills that are outstanding that Apex should cut their credit rating for non payment - mostly to protect their other customers from a similar situation where a big company decides to make the rules as they go to their own advantage to screw the little guys. If they are allowed to maintain a good credit rating and not pay at the same time it misleads the Apex customer, IMO. I can't see how a contract that a broker creates can trump the law that requires them to pay the freight charges regardless of the claim.
     
  8. wichris

    wichris Road Train Member

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    Are they denying cargo under driver error? How much is the claim? You should have salvage value on what was damaged.Apex has nothing to do with a cargo claim,they paid you and now they want to be paid. Even if you file against TQL you would have to get it into federal,state will go with the contract.
     
  9. wichris

    wichris Road Train Member

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    Factoring is under the state,not federal. Even though TQL's contract would not hold up in federal it would in state. That's what Apex has to go with. Just because they hold out for a claim doesn't affect their credit.
     
  10. Clasix1055

    Clasix1055 Even when I'm wrong I'm right

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    For some strange reason I think that Apex agrees with TQL. Don't be upset that they "don't have your back" you should have seen that coming, they are not going to stop doing business with one of the largest brokers to satisfy you, and other companies will continue to do business with both. Pay Apex back, change insurance companies, and try to recoup your money from Gramercy. Why not pay 10k to get 30k?
     
  11. wichris

    wichris Road Train Member

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    Who is dealing with the owner of the damaged product? I hope not TQL. If the insurance won't cover it then you should be dealing with them. Get a written claim amount from them. If it's less than TQL owes they will pay the difference to you when it's closed.
     
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